South Korea is aiming to resume discussions on a free trade agreement with Russia some five years after the talks ground to a halt.

The South Korean government said in a ministerial meeting to discuss international economic affairs Tuesday that Seoul is seeking to restart the talks as soon as possible. Seoul said it believes Russia’s development of the Far East and Siberia will offer great business opportunities to South Korean companies.

South Korea and Russia pushed for a free trade agreement in 2008 but Moscow unilaterally walked away from the negotiating table.